The 10 Steps Involved In The Property Sales Process

The 10 Steps Involved In The Property Sales Process

For most people, buying a home is the biggest investment they will probably make. As such, it is no wonder that the whole property sales process can be confusing and overwhelming for most people. But whether you are buying or selling a property by yourself or enlisting the aid of real estate agents, it is worthwhile to know how the whole sales process proceeds, allowing you to make sound investment decisions and avoid potential pitfalls that can cost you in the short and long term.

Typically, the sales process can be broken down into 10 steps. Here’s a brief glimpse of these as provided by Lauchlan Leishman, your trusted property investor.

Property valuation

Before hiring an agent or putting out an advertisement, the property owner should first determine the value of his home. Knowing the fair market value of the property allows the owner to sell the home faster and at the best possible price.

Enlisting the aid of a real estate agent

As mentioned earlier, selling and buying a home can be a complex endeavour. As such, it is a fairly common practice for sellers to enlist the aid of real estate agents who can help facilitate the sale of the home. With their experience, expertise and even contacts, agents can take a substantial amount of the burden off their clients’ shoulders.

Getting legal advice

While most real estate agents have a fair amount of knowledge related to property laws, nothing can replace the expert advice of a solicitor specialising in property laws. In some circumstances, legal advice is essential.

Making the property ready for viewing

Sometimes, the minor things that homeowners overlook can break a deal. Before putting out an advertisement for the sale of the property, owners prepare the house first by making minor or major repairs, removing clutter and ensuring the cleanliness of the property, both inside and outside.


Whether you are selling your home by yourself or you are getting help from an agent, the next crucial step in the process is marketing your property. This includes putting out adverts on newspapers and publications specialising in real estate and on property portals on the Internet.

House viewings

Once you have put out the advertisements and your home garners attention from potential buyers, many of these people would want to see your home up close in order to ascertain whether it is a good buy or not.

Buyer’s offer

Should the viewing yield a positive result, the next step would be for the buyer to express interest by making an offer. Here, it is not unusual for both parties to volley offers and counter offers until they agree upon mutually satisfactory terms.

Acceptance of offer

Once both parties have come to an agreement, the seller will have to push the sales process further by preparing the necessary documents as well as confirming the agreed selling price. Here, a solicitor can provide invaluable advice especially in drafting pertinent documents.

Signing of contracts

Contracts are signed typically after the seller has provided the buyer with copies of the important documents and the buyer has a mortgage offer. At this stage, it is a normal practice for the buyer to make a 10 percent deposit.

End of sale

The whole process typically ends when the seller has paid the remainder of the agreed upon price for the property.

Speak Your Mind